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Local water markets for irrigation in southern Spain: A multicriteria approach

  • Arriaza Balmón, Manuel
  • Gomez-Limon, Jose A.
  • Upton, Martin
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    Spanish authorities have recently approved a new legislative framework for the creation of local water markets to improve allocative efficiency for this scarce resource. This paper analyses the potential impacts of the policy. A utility function for three groups of farmers was elicited, using a method that does not require interaction with the decision‐makers. Utility was measured as a function of the first two moments of the distribution of total gross margin. The utility functions were then used to simulate farmers' responses to changes in the price of water.

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    File URL: http://purl.umn.edu/118068
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    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

    Volume (Year): 46 (2002)
    Issue (Month): 1 (March)
    Pages:

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    Handle: RePEc:ags:aareaj:118068
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    1. K.B. Hamal & Jock R. Anderson, 1982. "A Note On Decreasing Absolute Risk Aversion Among Farmers In Nepal," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(3), pages 220-225, December.
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    4. Qureshi, M. E. & Harrison, S. R. & Wegener, M. K., 1999. "Validation of multicriteria analysis models," Agricultural Systems, Elsevier, vol. 62(2), pages 105-116, November.
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    6. Hurwicz, Leonid, 1973. "The Design of Mechanisms for Resource Allocation," American Economic Review, American Economic Association, vol. 63(2), pages 1-30, May.
    7. Booker J. F. & Young R. A., 1994. "Modeling Intrastate and Interstate Markets for Colorado River Water Resources," Journal of Environmental Economics and Management, Elsevier, vol. 26(1), pages 66-87, January.
    8. Hatch, Roy E. & Harman, Wyatte L. & Eidman, Vernon R., 1974. "Incorporating Multiple Goals Into The Decision-Making Process: A Simulation Approach To Firm Growth Analysis," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 6(01), July.
    9. Barry T. Coyle, 1999. "Risk Aversion and Yield Uncertainty in Duality Models of Production: A Mean-Variance Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(3), pages 553-567.
    10. Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, Elsevier.
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